Video Surveillance Storage Market Set to Nearly Triple in Size by 2026

By Elijah Labby Sunday, January 3, 2021

Security cameras are everywhere nowadays: we put them in our businesses, on our land, and in our homes. These cameras provide us an extra layer of security — we can monitor who is where, when, and act accordingly. But something many do not consider is the enormous infrastructure for storing the video once it’s recorded.

It’s an oft-overlooked and underappreciated area of security, but it’s a valuable one. According to market research firm Valuates Reports, the video surveillance storage market is set to nearly triple in value from 2020 to 2026. Valued at over $12 million in 2020, Valuates Reports finds that the market will likely be worth about $33 million in 2026 — a compounded annual growth of 18.4%.

Ransomware and Other Surveillance Security Data Threats

If there’s a threat to the future of security camera storage as well as an opportunity for those able to guard against it, it’s ransomware. Ransomware targets data important to organizations and essentially allows hackers to “lock” the data, making it inaccessible to those who need it. The hackers then charge money for access to the information.

This poses a serious risk to organizations that choose shoddy means of storage for their security footage. Hard drives and solid-state drives are particularly susceptible to this sort of attack, whereas cloud storage allows for a near-infinite amount of storage and added security from mainstay technology companies like Amazon and Google.

Amazon and Google own their own security camera companies — Ring and Nest, respectively, which have become the gold standard in consumer-grade security camera technology. Both offer cloud storage through their parent companies’ extensive cloud infrastructure.

And experts say that security camera technology has progressed remarkably in recent years, with Google’s Nest brand being a standout.

“Because of Google’s artificial intelligence and the data they’ve gathered over the years from people using their search engine [and other products], they have the only system that works consistently for facial recognition and delivery notification,” said Mark Steinberg, senior technologist at B&H Photo, in an interview with New York Magazine.

The technology, Steinberg says, can tell the difference between a person and general motion (like a car) and alert you accordingly.

The Larger Video Surveillance Market

The wider market for video surveillance is growing considerably as well. In large part because of the pandemic’s impact on the attention paid to personal safety, the value of the video surveillance market hit $45.5 billion this year, according to reporting from Venture Beat.

Furthermore, experts from Omdia estimate that the integration of artificial intelligence (AI) into video monitoring will increase greatly in the coming years and drive the value of AI in the video surveillance industry to $100 billion in the next five years.

One of the factors making this growth possible is the wide variety of applications for this technology. Companies large and small both need security cameras to monitor the happenings around their buildings, make sure employees and items important to the company are safe, and give them the ability to have “eyes on the ground,” even when they cannot physically be present.

Similarly, homeowners can find incredible value and security simply by implementing the technology to watch over their belongings, family, and property.

And both homeowners and business owners can use the technology to report illegal activities around their properties to the authorities, who can use the video to make the area safer.

As we move toward a more digital world, the role of security cameras and the storage of the data recorded by them will only become more important. If these findings are any indication, the market will continue to accommodate the demand for them and bring video surveillance technology to new heights.

About the Author

Headshot for author Elijah Labby

Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.

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